The Economic Implications of Holding on to Good Old Wheels

Most Americans believe their cars are an extension their personalities.

That is why they cannot help being particular about the external features and colors of their wheels upon purchase. However, this practice often becomes problematic in the end, especially when the economy is concerned.

As people get attached to the vehicles they invested on, the more they cannot let go of them that easily. Regardless if a certain car was the first automobile of the family, or if it was the last thing a father left his children, most Americans are guilty of holding on to their vehicles longer than they should. With this, they unwittingly compromise a lot of important factors. To avoid suffering the consequences without even being aware of them, consumers should be informed about the most recent findings in the auto retailing market.

A credible research firm recently revealed Americans are holding on to their vehicles for a longer time. There are individuals who keep their automobiles even nearly 6 years after purchase. The study, made in the last quarter of 2011, cited consumers stick to their purchased wheels on an average of 71.4 months, up by 4.7 months from March in the same year.

Apart from setting a new high in the history of American automotive industry, this trend has significant impacts on the economy. Although this change in consumer behavior suggests people have become frugal, this also indicates they are making decisions that can negatively affect the entire market. Since they opt to keep their vehicles, the purchasing of new cars and the trading of old ones are hindered.

With that, the supposedly dynamic movement in the auto market is curtailed. As a result, reliable dealers of used cars in Indianapolis have started to act to address this consumer misconception. These car experts can attest that people cannot make significant savings by deciding to keep their good old wheels.

Sure they can avoid outlaying money on another auto loan; however, they cannot dodge the repair and maintenance requirements of their aging cars. Instead of sticking to their owned vehicles, they can trade them for quality used cars Indianapolis Indiana dealerships offer. These can allow them to drive new and better wheels without spending heavily on auto financing.

Dealers of used cars Indianapolis IN residents rely on can help consumers make better decisions through the quality vehicles and favorable payment plans they offer. Go to http://www.autonews.com/apps/pbcs.dll/article?AID=/20120221/RETAIL/120229997/1132/u-s-new-vehicles-being-kept-longer-than-ever-polk-says for more details regarding the said study.

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